Guideline Value for Venkateswara Main Road

Venkateswara Main Road guideline value

The current guideline value of Venkateswara Main Road is Rs 1,600 per sq.ft, effective from 1 July 2024. This road is located in Oragadam village under the Ambattur SRO, classified as Residential Class II Type - I.

How the guideline value of Venkateswara Main Road has changed

The guideline value for Venkateswara Main Road has seen several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value rose to Rs 1,500 per sq.ft in 2023 and further to Rs 1,600 per sq.ft in 2024, marking a 7% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 220%. The revisions for the years 2002 and 2003 do not have any figures listed for this street in the register.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Venkateswara Main Road's 2024 figure below that median.

• Venkateshwara Nagar extention: Rs 1,600 per sq.ft (2024)
• Venkatram 1st Street (S.V.Nagar): Rs 1,900 per sq.ft (2024)
• Venkatram 2nd Street (S.V.Nagar): Rs 1,900 per sq.ft (2024)
• Venkateshwara Nagar: Rs 1,600 per sq.ft (2024)
• Vetri Vinayagar Koil Street: Rs 1,600 per sq.ft (2024)
• Venkataraman Street (V.L.Puram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Main Road

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details on the fees applicable to your property transaction.

Which Sub Registrar Office covers Venkateswara Main Road?

The Sub Registrar Office that covers Venkateswara Main Road is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Oragadam

The guideline value is a crucial factor when registering property transactions in Oragadam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This valuation is important for legal and financial purposes, ensuring transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Venkateswara Main Road?

The current guideline value of Venkateswara Main Road is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 220% over this period.

What is the land classification for Venkateswara Main Road?

Venkateswara Main Road is classified as Residential Class II Type - I, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Venkateswara Main Road?

The Sub Registrar Office for Venkateswara Main Road is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property, which affects the stamp duty and registration fees payable during a property transaction. It ensures that the government receives appropriate fees based on the property's official valuation.